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Global Synthetic Fibers Market 2024 Key Trends, Share Analysis, Major Players And Forecast To 2033 | Bombay Dyeing & Manufacturing Company Limited, DuPont de Nemours Inc., Indorama Corporation, Group Corporation
Synthetic Fibers Market
The Business Research Company's Synthetic Fibers Global Market Report 2024 identifies Construction Boom A Catalyst as the major driver for the Synthetic Fibers Market's growth in the forecast period. The increasing demand for construction is expected to propel the growth of the synthetic fibers market going forward. Construction refers to the process of planning, designing, building, and assembling physical structures, facilities, or infrastructure. Synthetic fibers offer advantages such as corrosion resistance, high strength-to-weight ratios, and versatility, making them valuable additions to modern construction practices.
The synthetic fibers market size has grown strongly in recent years. It will grow from $175.06 billion in 2023 to $190.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to demand for cost-effective fibers, textile industry growth, advancements in material science, performance characteristics.
The synthetic fibers market size is expected to see strong growth in the next few years. It will grow to $258.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to sustainability and recycling, technical textiles growth, innovations in fiber types, consumer demand for performance apparel. Major trends in the forecast period include bio-based synthetic fibers, smart and functional fibers, nanotechnology integration, microfiber textiles.
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Major competitors in the Synthetic Fibers Market are Bombay Dyeing & Manufacturing Company Limited, DuPont de Nemours Inc., Indorama Corporation, Lenzing AG, Mitsubishi Chemical Group Corporation, Reliance Industries Limited, Sinopec Corp, Teijin Limited, Toray Chemical Korea Inc., Toyobo Co. Ltd., Dow Chemical Company, Toho Tenax Co. Ltd., Koch Industries Inc., Formosa Plastics Corporation, TUNTEX Group Co. Ltd., Asahi Kasei Corporation, Kolon Industries Inc., Hyosung Corporation, Radici Group, Far Eastern New Century Corporation, Indorama Ventures PCL, Nan Ya Plastics Corporation, Formosa Chemicals & Fibre Corporation, China National Chemical Fiber Corp., Huvis Corporation, Unifi Inc., FiberVisions Corporation, Trevira GmbH, Advansa BV, Wellman International Ltd., Kuraray Co. Ltd., Grasim Industries Ltd., Thai Polyester Co. Ltd., JBF Industries Ltd., Polygenta Technologies Limited, Shinkong Synthetic Fibers Corporation.
A key trend in the Synthetic Fibers Market includes Innovation In The Synthetic Fiber Industry. Major companies operating in synthetic fibers are developing innovative products such as the TERRYL brand to drive revenues in the market. The TERRYL brand encompasses various offerings, including wellness, holidays, dining, shopping, and payment services. For instance, in 2023, Cathay launched the TERRYL brand. The new brand, known as Cathay, reflects the company's evolution into a multi-faceted travel lifestyle brand beyond just airline travel. This rebranding effort aims to capture more of each customer's spending across different platforms and facilitate interactions between the company and its customers.
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The Synthetic Fibers Market is segmented -
1) By Type: Polyester, Nylon, Acrylics, Polyolefin, Other Types
2) By Application: Clothing, Home Furnishing, Automotive, Filtration, Other Applications
3) By Distribution Channel: Online, Offline
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Synthetic Fibers Market.
The Business Research Company's "Global Synthetic Fibers Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Synthetic Fibers Market Include:
1. Executive Summary
2. Synthetic Fibers Market Characteristics
3. Synthetic Fibers Market Trends And Strategies
4. Synthetic Fibers Market - Macro Economic Scenario
5. Global Synthetic Fibers Market Size and Growth
……
31. Global Synthetic Fibers Market Competitive Benchmarking
32. Global Synthetic Fibers Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Synthetic Fibers Market
34. Synthetic Fibers Market Future Outlook and Potential Analysis
35. Appendix
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